Vietnam increases imports of frozen pork

According to the customs authorities, in the first month of this year, Vietnam imported pork from 13 markets, with Russia being the largest supplier, accounting for nearly 45% of total imports. The average price of frozen pork imported into Vietnam was USD 2,672 per ton, up 20.8% compared to the same period last year.

Frozen pork is the fastest-growing imported product in the meat and meat products category. By the end of January, Vietnam had imported 74,450 tons of meat and meat products, valued at nearly USD 157 million, marking an 8.2% increase in volume and a 13.4% increase in value compared to the previous month. The main imported products include frozen poultry meat and edible by-products, fresh and frozen buffalo meat, and frozen by-products from pigs, buffalo, and cattle.

The sharp rise in imports is driven by the continuous increase in domestic live pig prices. In February, live pig prices ranged from VND 72,000 to 80,000 per kg, up by VND 6,000 - 10,000 per kg compared to the previous month. A decline in restocking has led to limited supply, forcing importers to increase imports to compensate.

According to the Ho Chi Minh City Department of Finance, contrary to the usual post-Tet price decline, live pig prices have increased this year due to supply shortages. The prolonged African swine fever outbreak has led many companies to reduce their sow herds or face a shortage of market-ready pigs, keeping pork prices high.

Live pig prices are expected to continue rising due to limited supply. While businesses have made efforts to stabilize prices, to ensure long-term operations, the Task Force and enterprises have agreed to adjust the market stabilization price for pork, increasing by VND 5,000 - 13,000 per kg, with an average rise of VND 8,000 per kg. The average adjustment rate is 6.9%, lower than the increase in live pig prices.